Pristyn Care Opens First Hospital, Eyes 50 Hospitals In 3 Years

SUMMARY

The hospital in Delhi has radiology labs, dermatology, gynaecology, modular operating theatres, intensive care units for premature babies, among other

Pristyn Care said it plans to open 50 hospitals across 25 cities in the next three years

While the unicorn connected patients with experienced surgeons till now, the opening of the hospital indicated that it is changing its business model

Healthtech startup Pristyn Care has opened its first super-speciality hospital in New Delhi.

The unicorn announced the development in a LinkedIn post. “From being an asset-light startup to owning and operating our own hospitals – this transformation reflects our commitment to revolutionising healthcare delivery in India,” it said.

The hospital has radiology labs, dermatology, gynaecology, and other departments, modular operating theatres and intensive care units for premature babies.

The startup plans to open 50 more hospitals across 25 cities in the next three years, increase its healthcare staff by another 3,500 healthcare professionals, and collaborate with more than 750 skilled surgeons.

Founded in 2018 by Harsimarbir Singh, Vaibhav Kapoor, and Garima Sawhney, Pristyne Care is a healthtech platform which specialises in surgeries. It connects patients with experienced surgeons for better care and results. However, with the opening of its own hospital, it seems to be moving to a new business model.

The Delhi NCR-based startup claims to have served over 2 Mn patients and facilitated more than 1.5 Lakh surgeries till date. It has partnered with more than 400 doctors, 150 clinics and 800 hospitals, and claims to have a presence in more than 50 cities.

It is pertinent to note that the startup was reportedly looking to raise between $50 Mn to $100 Mn in a fresh funding round to fuel its expansion. The round was expected to be closed by the first half of 2025.

It is also eyeing a public listing in the next three years and has already engaged with bankers, global investors, high-net-worth individuals, and family offices to facilitate the process.

On the financial front, Pristyn Care’s consolidated net loss was almost flat in the financial year 2023-24 (FY24). It posted a loss of INR 381.07 Cr in FY24 as against a loss of INR 382.57 Cr in the previous fiscal year.

However, revenue from operations surged 33% to INR 600.52 Cr from INR 452.89 Cr in FY23.

It is pertinent to note that the startup fired 120 employees in March last year with an eye on turning profitable in FY25.

The hospital foray comes at a time when another new-age tech company, PB Fintech, is also gearing up to enter the healthcare sector.